West Germany: Prosperity, But

Is the bloom finally off the West German economic miracle?

West Germany's postwar economy is now 17 years old. and it is growing the way a 17-year-old usually does—fast, but not so fast as before. The real increase in the West German gross national product simmered down from a spectacular 8.8% in 1960 to ''only" 5.3% last year and an expected 4% this year. This is partly a reflection of mounting competition from the newly robust economies of France and Italy (TIME. Jan. 12). which are slicing into Germany's export markets. With exports of capital goods off slightly this...

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